If I get a 5% raise each year for four consecutive years, that is the same as a 20% raise.

Name: If I get a 5% raise each year for four consecutive years, that is the same as a 20% raise.
Brand: Quizplus
Rating: 4.8 (35 reviews)

Question

Quizplus · Accepted Answer

A 5% raise each year for four consecutive years compounds, meaning each year's raise is applied to the previous year's increased salary, resulting in a total increase of more than 20%.

If I Get a 5% Raise Each Year for Four